New York State Common Retirement Fund Sells 18,939 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

New York State Common Retirement Fund trimmed its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 171,221 shares of the company's stock after selling 18,939 shares during the quarter. New York State Common Retirement Fund owned approximately 0.32% of Construction Partners worth $7,452,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Comerica Bank grew its holdings in shares of Construction Partners by 2,716.6% during the 3rd quarter. Comerica Bank now owns 344,814 shares of the company's stock worth $12,606,000 after purchasing an additional 332,572 shares during the period. Vanguard Group Inc. raised its stake in shares of Construction Partners by 8.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,290,486 shares of the company's stock valued at $83,740,000 after acquiring an additional 181,017 shares during the period. American Century Companies Inc. boosted its position in Construction Partners by 15.0% during the 3rd quarter. American Century Companies Inc. now owns 1,316,081 shares of the company's stock worth $48,116,000 after purchasing an additional 172,109 shares during the period. Envestnet Asset Management Inc. increased its holdings in Construction Partners by 39.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 421,356 shares of the company's stock valued at $15,405,000 after purchasing an additional 119,912 shares in the last quarter. Finally, 12th Street Asset Management Company LLC grew its stake in shares of Construction Partners by 101.3% in the third quarter. 12th Street Asset Management Company LLC now owns 198,475 shares of the company's stock valued at $7,256,000 after buying an additional 99,896 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ROAD has been the topic of a number of recent analyst reports. Robert W. Baird lowered Construction Partners from an "outperform" rating to a "neutral" rating and upped their target price for the company from $46.00 to $50.00 in a research report on Monday, February 12th. Sidoti cut Construction Partners from a "buy" rating to a "neutral" rating and set a $59.00 price target on the stock. in a research report on Thursday, March 28th. Finally, Stifel Nicolaus increased their price objective on shares of Construction Partners from $51.00 to $57.00 and gave the stock a "buy" rating in a report on Monday, February 12th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Construction Partners currently has a consensus rating of "Moderate Buy" and an average target price of $52.00.

Construction Partners Stock Up 0.4 %

Shares of ROAD stock traded up $0.19 on Friday, reaching $51.50. 339,159 shares of the company's stock traded hands, compared to its average volume of 357,579. The business's 50 day moving average price is $52.70 and its two-hundred day moving average price is $46.16. The company has a market capitalization of $2.71 billion, a P/E ratio of 47.51, a price-to-earnings-growth ratio of 1.32 and a beta of 0.68. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.39 and a current ratio of 1.75. Construction Partners, Inc. has a 12-month low of $24.20 and a 12-month high of $58.65.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings results on Friday, February 9th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.06. The company had revenue of $396.51 million during the quarter, compared to analysts' expectations of $393.62 million. Construction Partners had a net margin of 3.52% and a return on equity of 11.56%. The business's quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 earnings per share. On average, equities analysts forecast that Construction Partners, Inc. will post 1.34 earnings per share for the current year.

Construction Partners Profile

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.